https://www.taxtmi.com/caselaws?id=270524 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, granting the trust exemption under sections 11 & 12 of the Income Tax Act. The Tribunal confirmed that the trust's activities were not commercial due to the absence of a profit motive, allowing the capital expenditure previously disallowed by the Assessing Officer. The revenue's appeal was dismissed, affirming the trust's entitlement to exemption and the allowance of capital expenditure. en-us Fri, 01 Jan 2016 00:00:00 +0530 Fri, 08 Jan 2016 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270524 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, granting the trust exemption under sections 11 & 12 of the Income Tax Act. The Tribunal confirmed that the trust's activities were not commercial due to the absence of a profit motive, allowing the capital expenditure previously disallowed by the Assessing Officer. The revenue's appeal was dismissed, affirming the trust's entitlement to exemption and the allowance of capital expenditure. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270524